1.   The bid-ask spread was so large that it converted significant profits into significant losses.

2.   And they lose money when they convert their foreign profits back into dollars.

3.   Besides making their cars more expensive in Japan, it also eats into their earnings in weaker yen when the profits are converted into dollars.

4.   A stronger dollar reduces returns when profits from overseas investments are converted back to the U.S.

5.   A strong dollar means more yen for Japanese companies when they convert their U.S. profits, letting them hold their prices down.

6.   A stronger dollar also hurts companies when they convert profits from foreign sales into dollars.

7.   A weak yen means foreign investors get less when they convert their profits back into their home currency.

8.   A weaker dollar makes investments in the United States less attractive to foreign investors when they try to convert their profits into their local currency.

9.   But when the dollar strengthens, unhedged funds could make money abroad in local market terms but lose when the profits are converted into dollars.

10.   Early this morning, the U.S. currency slipped on selling by Japanese exporters as they converted overseas profits into yen before their business year ends this month.